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Listed by Jennifer Chester • Crown Realty
$160,000
Est. payment /mo
10,150 Sqft Lot
UPDATED:
Key Details
Property Type Commercial
Sub Type Retail
Listing Status Active
Purchase Type For Sale
MLS Listing ID 2612317
Year Built 1907
Annual Tax Amount $1,960
Lot Size 10,150 Sqft
Acres 0.23301193
Lot Dimensions 67x120
Property Sub-Type Retail
Source hmls
Property Description
**Income-Producing Investment | Near New Lehigh Portland State Park**
Exceptional opportunity to acquire a stabilized commercial asset just a half-block off Iola's historic downtown square. This property offers immediate cash flow with a current tenant in place who desires to remain, making it a "turn-key" addition to any investment portfolio. With the grand opening of the Lehigh Portland State Park scheduled for this summer, Iola is poised for a significant increase in regional tourism and foot traffic.
?PROPERTY HIGHLIGHTS
?Stabilized Income: Benefit from immediate rental income. The established tenant provides long-term stability for the new owner.
?TOURISM GROWTH: Positioned to capitalize on the influx of visitors to the state's newest flagship park, featuring 14 miles of trails and a 90-acre lake just minutes away.
?Strategic Location: Situated on East Jackson, the building captures steady traffic from the square while offering easier accessibility and parking than the main thoroughfares.
?Hospitality Infrastructure: Fully built-out for its current use as a tavern, featuring a spacious open floor plan and commercial-grade facilities.
?VERSATILE ASSET: Solid construction and an open layout provide long-term flexibility for retail, a boutique "lake-themed" shop, or professional office use.
?THE OPPORTUNITY
This is a real estate only sale. No business entities, trade names, or liquor licenses are included. This is a rare chance to purchase a downtown Iola property that is already performing and perfectly timed for the city's upcoming economic boost.
?Note to Buyers: Property sold as-is. Please do not disturb the tenant. Financials regarding the current lease agreement are available to qualified buyers upon request.
Exceptional opportunity to acquire a stabilized commercial asset just a half-block off Iola's historic downtown square. This property offers immediate cash flow with a current tenant in place who desires to remain, making it a "turn-key" addition to any investment portfolio. With the grand opening of the Lehigh Portland State Park scheduled for this summer, Iola is poised for a significant increase in regional tourism and foot traffic.
?PROPERTY HIGHLIGHTS
?Stabilized Income: Benefit from immediate rental income. The established tenant provides long-term stability for the new owner.
?TOURISM GROWTH: Positioned to capitalize on the influx of visitors to the state's newest flagship park, featuring 14 miles of trails and a 90-acre lake just minutes away.
?Strategic Location: Situated on East Jackson, the building captures steady traffic from the square while offering easier accessibility and parking than the main thoroughfares.
?Hospitality Infrastructure: Fully built-out for its current use as a tavern, featuring a spacious open floor plan and commercial-grade facilities.
?VERSATILE ASSET: Solid construction and an open layout provide long-term flexibility for retail, a boutique "lake-themed" shop, or professional office use.
?THE OPPORTUNITY
This is a real estate only sale. No business entities, trade names, or liquor licenses are included. This is a rare chance to purchase a downtown Iola property that is already performing and perfectly timed for the city's upcoming economic boost.
?Note to Buyers: Property sold as-is. Please do not disturb the tenant. Financials regarding the current lease agreement are available to qualified buyers upon request.
Location
State KS
County Allen
Zoning Comm
Interior
Interior Features Public Restroom, Refrigerator Facility
Fireplace N
Exterior
Exterior Feature Building Sign, Delivery Door(s)
Utilities Available Electricity Available, Natural Gas Available, Sewer Available, Water Available
Building
Story 1
Others
Acceptable Financing Cash, Conventional, Owner May Carry
Listing Terms Cash, Conventional, Owner May Carry
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